1. SnR: Price not able to sustain above resistance zone 3994. This indicates a strong seller 2. Channel/Trendline: Price break up trendline - Indicate sideway/change direction. 3. Oscillator: MACD from yesterday shows a bearish divergence
Expectation : 1. Price will continue bearish momentum until at least close the previous gap.
Trading plan as usual : 1. In Early morning, monitor the nearest possible SnR 2. Monitor EMA12 1min TF for entry
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Monitor EMA12 1min and mid channel
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Price test EMA12 and mid channel
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As expected, price react to mid channel. Watch out for possible reversal / sideway area near the lower channel
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Another entry chance. Price test EMA12 5min. MACD forming re-entry pattern